Multibagger EV-stock under Rs 100 with 4,700 per cent returns: Company secures approval for EV-subsidy from Government of India; Details inside!
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 39.13 per share and a whopping 4,700 per cent in 5 years.
Revolt Motors (a subsidiary of RattanIndia Enterprises Ltd), India’s number one electric motorcycle company, is proud to announce that it has received official approval from the Ministry of Heavy Industries to be eligible for Govt. of India’s EV subsidy schemes. As communicated earlier, Revolt Motors, as a responsible corporate citizen, had proactively paid back the past availed subsidies under the FAME-II subsidy regime. With this step, all past issues related to FAME II subsidies stand fully resolved
This is a significant step for the company since it not only makes Revolt Motors eligible for the current ongoing Electric Mobility Promotion Scheme (EMPS) 2024 subsidy for electric two-wheelers but also the subsequent FAME III subsidy scheme which is expected to follow EMPS. The current scheme, EMPS was extended by the Government of India till September 30, 2024, last week.
As part of the current EMPS 2024 subsidy scheme, Revolt Motors will be eligible for Rs 10,000 per motorcycle as a subsidy from Govt. of India. This will make Revolt motorcycles competitively priced in the market, further boosting the company's sales and profitability in a big way. With this approval, Revolt Motors joins a select group of manufacturers dedicated to driving the nation towards a greener, more energy-efficient future.
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About the Company
Rattan India Enterprises Ltd, the flagship company of Rattan India Group, focuses on tech-driven new-age businesses across e-commerce, electric vehicles, fintech, and drones. Their e-commerce arm, Cocoblu, is an online retail platform partnered with various brands and leverages Amazon fulfilment centres. They also have Neobrands, a B2B online fashion apparel business with its own D2C brands. In electric vehicles, they acquired Revolt, achieving 100 per cent localization and expanding their store network. Their fintech subsidiary, Neotec, operates the digital lending platform 'Wefin' offering personal loans, vehicle loans and credit cards. Additionally, Neosky, their drone subsidiary, provides drones as products and services, with a pilot training program and new cargo and surveillance drone models.
Today, shares of RattanIndia Enterprises Ltd surged 2.11 per cent to an intraday high of Rs 81.50 per share from its previous closing of Rs 79.81. The stock’s 52-week high is Rs 94.85 and its 52-week low is Rs 40.32. The stock has an ROE of 76 per cent and an ROCE of 36 per cent.
The company has a market cap of over Rs 11,000 crore with a 5-year CAGR of 110 per cent. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 39.13 per share and a whopping 4,700 per cent in 5 years. Investors should keep an eye on this Small-Cap company.
Disclaimer: The article is for informational purposes only and not investment advice.
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